Experience Stern | News & Events

Excerpt from Barron's -- "A recent paper co-authored by Martin Gruber, an emeritus professor of finance at New York University, found that target-date fund managers often picked funds that helped their firm’s own objectives at the expense of potentially lower returns. Sometimes that meant picking their own higher-cost fund over a cheaper alternative, or picking a younger, smaller fund from their own stable over one with a longer record—both of which led to underperformance. 'For most people who don’t want to get too involved, target-date funds make sense, but they can’t just say it’s a good investment. They have to shop around,' Gruber told Barron’s."

Read more